Rex Wyon Inc

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Rex Wyon Insurance - History Rex Wyon, Inc is a general and excess lines insurance agency licensed to transact business in the states of New York, New Jersey and Connecticut. The company was incorporated in 1972 as the vehicle of transfer of corporate business from the predecessor company, Rex Wyon Insurance. The shares of the company stock are privately held. Based in New York City, Rex Wyon Inc has four operating divisions: The Commercial Insurance Division ; The Personal Insurance Division ; Captive Services Division and Employee Benefits Division. In its role as an insurance services company, Rex Wyon Inc obtains insurance for a variety of risks and clients. It also has the ability to underwrite directly on behalf of a number of national insurance carriers. The company has particular strength in the creation of insurance products and services for community banks in which it has specialized since 1974. On a state wide basis, RWI provides insurance coverages to approximately 26% of all New York Community banks. RWI's industry commitment and involvement was demonstrated in 1986 when it became apparent that shrinking capacity, restricted coverage, and escalating rates in the marketplace for directors' and officers' liability insurance made this necessary coverage unavailable. RWI determined that a vehicle could be established which wouldmake its creators less vulnerable to the peaks and valleys of the insurance cycle ; would support and help stabilize the commercial market and would generate some much needed additional capacity. The vehicle, a captive company, First Monetary Mutual Limited, was incorporated as a mutual insurance company in Bermuda in 1986. First Monetary is currently owned by more than 40 New York community banks.